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Deals in Depth: April 2009

Executive Summary

GSK and Pfizer set up an HIV joint venture--with assets worth $373mm--that combines 17 of their drugs and compounds. GSK also made news in M&As, making a significant investment in dermatology by acquiring Stiefel Laboratories for $3.6bn. In April, device firms raised $396mm, over $100mm more than their biopharma counterparts.

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